BREXITEER Jacob Reese-Mogg has warned Theresa May to prepare a financial strategy for a no-deal Brexit or risk a repeat of sbo222 Black Wednesday in 1992, which lead to the Conservative Party’s defeat after the UK’s economy ended up in tatters. Mr Rees-Mogg, MP for North East Somerset, insisted Mrs May must prepare Britain for a possible financial crash if the UK leaves the EU with no sbo222 agreement, or risk losing public confidence in her government. Writing for the Daily Telegraph, he warned how post-Brexit Britain could slump into a downward spiral, recalling how Black Wednesday left UK's financial markets in utter turmoil.In 1992, then-Prime Minister Sir John Major was forced to withdraw the pound from the European Exchange Rate Mechanism, after the sbo222currency failed to stay within its agreed limit. This cost the UK's economy an estimated £3.3 billion pounds in losses, sending support for Mr Major's Government and the Conservative Party to an all-time low. Opinion polls turned against the Conservative party, leading in 1997 to the heaviest defeat since 1906. Mr Rees-Mogg said: "Theresa May, the Prime Minister, risks putting the Conservative Party in the same position again.